Niger Economy 2018, CIA World Factbook
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Niger Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Niger Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Niger is a landlocked, sub-Saharan nation, whose economy centers on subsistence crops, livestock, and some of the world's largest uranium deposits. Agriculture contributes approximately 25% of GDP and provides livelihood for 87% of the population. The UN ranked Niger as the second least developed country in the world in 2016 due to multiple factors such as food insecurity, lack of industry, high population growth, a weak educational sector, and few prospects for work outside of subsistence farming and herding.Since 2011 public debt has increased due to efforts to scale-up public investment, particularly that related to infrastructure, as well as due to increased security spending. The government relies on foreign donor resources for a large portion of its fiscal budget. The economy in recent years has been hurt by terrorist activity and kidnappings near its uranium mines and by instability in Mali and in the Diffa region of the country; concerns about security have resulted in increased support from regional and international partners on defense. Low uranium prices, demographics, and security expenditures may continue to put pressure on the government’s finances.Future growth may be sustained by exploitation of oil, gold, coal, and other mineral resources. Although Niger has sizable reserves of oil, the prolonged drop in oil prices has reduced profitability. Food insecurity and drought remain perennial problems for Niger, and the government plans to invest more in irrigation. Niger’s three-year $131 million IMF Extended Credit Facility (ECF) agreement for the years 2012-15 was extended until the end of 2016. In February 2017, the IMF approved a new 3-year $134 million ECF. A $437 million Millennium Challenge Account compact for Niger, commencing in FY17, will focus on large-scale irrigation infrastructure development and community-based, climate-resilient agriculture, while promoting sustainable increases in agricultural productivity and sales.Formal private sector investment needed for economic diversification and growth remains a challenge, given the country’s limited domestic markets, access to credit, and competitiveness. Although President ISSOUFOU is courting foreign investors, including those from the US, as of April 2017, there were no US firms operating in Niger.

GDP (purchasing power parity):
$21.62 billion (2017 est.) $20.75 billion (2016 est.) $19.76 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 146

GDP (official exchange rate):
$7.892 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.2% (2017 est.) 5% (2016 est.) 4% (2015 est.)
country comparison to the world: 60
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,200 (2017 est.) $1,100 (2016 est.) $1,100 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 223

Gross national saving:
23.7% of GDP (2017 est.) 24.1% of GDP (2016 est.) 24.4% of GDP (2015 est.)
country comparison to the world: 61
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 66.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 14.4%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 42.1%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 16.4%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -39.7% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 44.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 14.9%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 40.8% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cowpeas, cotton, peanuts, millet, sorghum, cassava (manioc, tapioca), rice; cattle, sheep, goats, camels, donkeys, horses, poultry

Industries:
uranium mining, petroleum, cement, brick, soap, textiles, food processing, chemicals, slaughterhouses

Industrial production growth rate:
5% (2017 est.)
country comparison to the world: 44
[see also: Industrial production growth rate country ranks ]

Labor force:
6.5 million (2017 est.)
country comparison to the world: 71
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 87%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 4%
[see also: Labor force - by occupation - industry country ranks ]
services: 9% (2016 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
2.6% (2016 est.) 2.6% (2016 est.)
country comparison to the world: 24
[see also: Unemployment rate country ranks ]

Population below poverty line:
45.4% (2014 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 28.5% (2007)

Distribution of family income - Gini index:
34 (2007) 50.5 (1995)
country comparison to the world: 100
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $1.68 billion
[see also: Budget - revenues country ranks ]
expenditures: $2.235 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
21.3% of GDP (2017 est.)
country comparison to the world: 140
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-7% of GDP (2017 est.)
country comparison to the world: 189
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
45.9% of GDP (2016 est.) 41.3% of GDP (2015 est.)
country comparison to the world: 117
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1% (2017 est.) 0.3% (2016 est.)
country comparison to the world: 44
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2015) 4.25% (31 December 2014)
country comparison to the world: 94
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
5.4% (31 December 2017 est.) 5.3% (31 December 2016 est.)
country comparison to the world: 139
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.767 billion (31 December 2017 est.) $1.535 billion (31 December 2016 est.)
country comparison to the world: 140
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.322 billion (31 December 2017 est.) $2.018 billion (31 December 2016 est.)
country comparison to the world: 151
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.454 billion (31 December 2017 est.) $1.267 billion (31 December 2016 est.)
country comparison to the world: 159
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.471 billion (2017 est.) -$1.159 billion (2016 est.)
country comparison to the world: 146
[see also: Current account balance country ranks ]

Exports:
$1.177 billion (2017 est.) $1.101 billion (2016 est.)
country comparison to the world: 154
[see also: Exports country ranks ]

Exports - commodities:
uranium ore, livestock, cowpeas, onions

Exports - partners:
France 31.3%, Thailand 11.6%, Malaysia 11.1%, Nigeria 9.5%, Mali 5.6%, China 5.3% (2016)

Imports:
$2.194 billion (2017 est.) $2.031 billion (2016 est.)
country comparison to the world: 155
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, machinery, vehicles and parts, petroleum, cereals

Imports - partners:
France 28.3%, China 16.1%, US 7.8%, Nigeria 5.8%, Thailand 5.8% (2016)

Debt - external:
$3.09 billion (31 December 2017 est.) $2.926 billion (31 December 2016 est.)
country comparison to the world: 141
[see also: Debt - external country ranks ]

Exchange rates:
Communaute Financiere Africaine francs (XOF) per US dollar - 605.3 (2017 est.) 593.01 (2016 est.) 593.01 (2015 est.) 591.45 (2014 est.) 494.42 (2013 est.)


NOTE: 1) The information regarding Niger on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Niger Economy 2018 information contained here. All suggestions for corrections of any errors about Niger Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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